Iwata Explains Wii Price Cut Not Due to Competition; Profits Falling Due to Lack of Content

No one expected the Wii boom to last forever, and eyes have been on Nintendo lately as profits have begun to decline, with people wondering what Nintendo may have up its sleeve to remedy the situation. President Satoru Iwata explained during an Investor Relations meeting that, rather than being driven to cut the price of the Wii as a result of mounting pressure from Sony and Microsoft, "underperformances were attributed primarily to the lack of continuous release of software titles which could strongly drive hardware sales and price cut of Wii hardware." (link)